Wolfsburg, Germany – The Volkswagen Group has taken a 90.1 per cent share in Italdesign Giugiaro (IDG) of Turin, Italy, intensifying the cooperation between the two companies. The shares will be acquired by Lamborghini Holding, Audi’s Italian subsidiary.
The stake includes brand name rights and patents.
“With this shareholding in Italdesign, we are participating in one of the most renowned design and development companies with one of the richest traditions in the automobile industry,” said Professor Dr. Martin Winterkorn, chairman of the board of management of Volkswagen AG. “Italdesign is the flagship for creative Italian automobile design and has been instrument in shaping the face of the automobile industry worldwide. As the creator of the Golf I, Giorgetto Giugiaro laid a new foundation for Volkswagen design in the 1970s.”
IDG was founded in Turin by Giorgetto Giugiaro and Aldo Manotvani in 1968, and both are considered pioneers of modern Italian automobile design. In addition to the Golf I, Giugiaro also designed concepts for the first Volkswagen Passat and Scirocco, and the Audi 80.
Volkswagen and IDG are also collaborating closely on ongoing projects such as the planned Volkswagen Up! model family.